Article 15 Amendments of Schedule 7 to the Insolvent Partnerships Order 1994

Paragraph 21 of Schedule 7 to the Insolvent Partnerships Order 1994 (provisions of the Insolvency Act 1986^f1 which apply with modifications for the purposes of article 11 where joint bankruptcy presented by individual members without winding up of partnership as unregistered company) is amended as follows.

In modified section 328A(2) (priority of debts in joint estate), for paragraph (a) substitute—

“(a)

the ordinary preferential debts;

(aa)

the secondary preferential debts;”.

In modified sections 328A(4), 328A(5), 328A(6) and 328B(2) for “paragraphs (a) and (b)” substitute “paragraphs (a), (aa) and (b)”.

In modified section 328B(1) (priority of debts in separate estate), for paragraph (a) substitute—

“(a)

the ordinary preferential debts;

(aa)

the secondary preferential debts;”.